Northbrook IL: On April 25, 2023, Ben Freeman, Sr. Vice President Commercial Development with Brookfield Properties, the owner of Northbrook Court since 1995, attended the Village Board meeting and gave a public presentation on a Conceptual Master Plan for the Redevelopment of Northbrook Court.
The presentation included background information on the property as well as a review of Brookfield’s 2019 development plans, which were sidelined by the pandemic in March of 2020. Mr. Freeman discussed the new concept for the future redevelopment of Northbrook Court.
"This is the start of a new conversation with Northbrook stakeholders and Brookfield Properties. In the world of economic development, a single property owner of around 100 acres is unique in a community like ours and it is important for the Village to act thoughtfully and diligently in regards to this potential redevelopment,” said Village President Kathryn Ciesla.
The Village Board was not asked to take any action at the April 25 meeting. The Village Manager identified high level next steps which are expected to occur in the coming months including:
- Public information on the Village website.
- The Village Board will be presented in May, for review and consideration, the financial parameters of a public-private partnership for the Master Plan – including how the Conceptual Master Plan impacts the existing TIF at Northbrook Court. Generally, this will be presented in the form of a non-binding agreement to outline all aspects of the Conceptual Master Plan.
- Informational open houses with stakeholders and interested residents will be scheduled for future dates in May.
- The Village will engage community partners in its review of the Conceptual Master Plan so that details and timing of proposed retail and residential concepts can be discussed in greater detail.
- The Village Board will be asked to approve the engagement of a consultant to perform an independent review of the financial incentives and conduct a TIF analysis related to the Conceptual Master Plan.
- In June, it is expected the Village Board will be asked to consider formal action to initiate review of the proposed land use and TIF. The public review of these will potentially occur in July and August.
- The Village Board could formally review recommendations related to land use and TIF as early as September and take action at that time. Specific dates will be subject to required public notice procedures.
“This 100-acre property can be so much more than it is today. Brookfield Properties’ desire to partner with Northbrook and invest in this community speaks to Northbrook’s vitality and economic standing in the region,” President Ciesla also noted.
The Village has created a new webpage to keep the public informed about the Northbrook Court project as well as other major construction and development projects that are at various stages of completion. Please visit www.northbrook.il.us//Construction_Development to view this page and learn more.